- M&A News
M&A News: Global M&A Deals Week of Feb 24 to Mar 2, 2025
- IMAA
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The Institute for Mergers, Acquisitions and Alliances (IMAA) provides a detailed weekly roundup of mergers and acquisitions news, highlighting the most significant global M&A deals. This essential update offers a snapshot of the latest movements and trends within the M&A market, showcasing the top transactions that stand out in the corporate world. Through this coverage, IMAA aims to furnish M&A professionals and enthusiasts alike with a comprehensive overview of the week’s M&A activities, helping them stay informed about the evolving landscape of global mergers and acquisitions.
The global mergers and acquisitions (M&A) landscape saw increased activity during the week of February 24 to March 2, with 545 announced deals totaling USD 50.15 billion. Of these, 20 transactions surpassed USD 500 million, collectively contributing USD 41.08 billion—accounting for 82% of the total deal value.
The largest deal of the week was CDPQ’s USD 7 billion acquisition of Quebec-based Innergex Renewable Energy, taking the independent renewable power producer private. The transaction represents a 58% premium over Innergex’s closing share price on February 23. With CDPQ’s financial backing, Innergex is set to strengthen its position as a key player in Québec’s renewable energy sector, supporting long-term growth and expansion. CDPQ, known for its investments in sustainable infrastructure, views the deal as part of its broader strategy to generate long-term returns while advancing the global transition to renewable energy. With demand for renewable energy increasing, Innergex is expected to play a critical role in advancing hydro, wind, and solar power projects across multiple markets.
Comparing weekly figures, deal volume rose by 5%, from 520 to 545 transactions, while total deal value surged by 42%, climbing from USD 35.27 billion to USD 50.15 billion.
Top 5 M&A Deals for the Week
Here are the top 5 M&A Deals for the week of Feb 24 to Mar 2, 2025 in detail:
Deal No. 1: Caisse de dépôt et placement du Québec to Acquire Innergex Renewable Energy Inc. for USD 7.00 Billion
Deal No. 2: Blackstone Inc. to Acquire Safe Harbor Marinas, LLC for USD 5.65 Billion
Deal No. 3: Prosus N.V. to Acquire Just Eat Takeaway.com N.V. for USD 4.30 Billion
Deal No. 4: Thermo Fisher Scientific Inc. to Acquire Purification & Filtration Business of Solventum Corporation for USD 4.10 Billion
Deal No. 5: Group 42 Holding Ltd to Acquire Khazna Data Center Limited for USD 2.20 Billion
Deal No. 1:
Caisse de dépôt et placement du Québec to Acquire Innergex Renewable Energy Inc. for USD 7.00 Billion
Caisse de dépôt et placement du Québec (CDPQ), Canada’s pension fund manager, has announced plans to acquire Innergex Renewable Energy Inc. in a deal worth CAD 10 billion (USD 7 billion).
Innergex is a renewable energy producer involved in the development, ownership, and operation of hydroelectric, wind, solar, and energy storage facilities. Its portfolio includes 90 active sites with a combined net installed capacity of 3.7 GW, comprising 42 hydroelectric plants, 36 wind farms, nine solar farms, and three battery storage facilities. The company also has a stake in 17 projects under development, totaling 945 MW in net capacity (1,577 MW gross), with operations spanning Canada, the U.S., France, and Chile.
The acquisition aligns with CDPQ’s dual mandate of generating long-term returns while supporting key Québec-based enterprises. As a long-time investor in Innergex since 1995, CDPQ intends to syndicate up to 20% of its stake to attract additional investors.
The transaction, reinforcing Innergex’s role in the energy transition, is expected to close in the fourth quarter. BMO Capital Markets and CIBC Capital Markets are advising Innergex, while TD Securities and Moelis & Company LLC are serving as financial advisors to CDPQ.
Deal No. 2:
Blackstone Inc. to Acquire Safe Harbor Marinas, LLC for USD 5.65 Billion
Blackstone has agreed to acquire Safe Harbor Marinas, the largest marina and superyacht servicing company in the United States, for USD 5.65 billion. The acquisition expands Blackstone Infrastructure’s portfolio while strengthening its presence in the recreational and marine industries.
Safe Harbor Marinas is the world’s largest and most diversified marina owner and operator, managing 138 marinas across the United States and Puerto Rico. As a leader in boat storage and servicing, the company offers docking, storage, and maintenance solutions for recreational boaters while investing in infrastructure and amenities to enhance marina communities.
For Blackstone, the acquisition supports its strategic focus on key sectors such as manufactured housing and recreational vehicles while preserving financial flexibility. The marina industry benefits from favorable long-term trends, including rising demand for leisure travel and increasing migration to coastal areas. Safe Harbor Marinas is well-positioned to capitalize on these opportunities.
The transaction is expected to close in the second half of 2025. Wells Fargo acted as the lead financial advisor to Blackstone Infrastructure and provided committed financing for the deal.
Deal No. 3:
Prosus N.V. to Acquire Just Eat Takeaway.com N.V. for USD 4.30 Billion
Global tech investor Prosus is acquiring Just Eat Takeaway.com for USD 4.3 billion, aiming to establish the world’s fourth-largest food delivery group. Under the agreement, Prosus will purchase all issued and outstanding shares of Just Eat Takeaway.com at EUR 20.30 (USD 21.25) per share.
Headquartered in the Netherlands, Just Eat Takeaway.com is one of Europe’s most recognized food delivery platforms, operating in 17 international markets. It connects 61 million customers with over 356,000 local restaurant partners and holds leading market positions in several regions. The company has established strong brand recognition, particularly in the United Kingdom, Germany, and the Netherlands, where its profitable, cash-generating operations present significant growth potential—an opportunity Prosus aims to expand upon.
With extensive experience in scaling e-commerce and food delivery platforms, Prosus is well-positioned to drive Just Eat Takeaway.com’s expansion. Prosus’s global food delivery network spans over 70 countries, supporting more than one million restaurant partners. The company’s successful growth strategy at iFood in Brazil serves as a model for advancing Just Eat Takeaway.com through improvements in technology, product features, demand generation, service quality, and overall market presence.
The acquisition remains subject to customary pre-offer and offer conditions, including regulatory approvals.
Deal No. 4:
Thermo Fisher Scientific Inc. to Acquire Purification & Filtration Business of Solventum Corporation for USD 4.10 Billion
Thermo Fisher Scientific, a global provider of scientific research and laboratory solutions, has announced the acquisition of Solventum’s Purification & Filtration business for approximately USD 4.1 billion in cash. The deal will strengthen Thermo Fisher’s bioprocessing portfolio by integrating advanced purification and filtration technologies.
Solventum’s Purification & Filtration business delivers essential purification and filtration solutions used in biologics manufacturing, medical technology, and industrial applications. With operations across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region, the business employs approximately 2,500 people and generated around USD 1 billion in revenue in 2024.
The acquisition expands Thermo Fisher’s bioproduction capabilities, which include cell culture media, single-use technologies, purification systems, and analytical tools for biologics, cell therapy, and gene therapy manufacturing. Integrating Solventum’s filtration expertise will enhance Thermo Fisher’s end-to-end biomanufacturing processes.
Following the acquisition, the business is projected to achieve mid- to high-single-digit organic growth, with Thermo Fisher leveraging its PPI Business System to drive efficiency, margin expansion, and operational synergies.
The transaction is anticipated to close by the end of 2025, after which Solventum’s Purification & Filtration business will be integrated into Thermo Fisher’s Life Sciences Solutions segment. Wells Fargo is acting as Thermo Fisher’s exclusive financial advisor.
Deal No. 5:
Group 42 Holding Ltd to Acquire Khazna Data Center Limited for USD 2.20 Billion
UAE telecom giant e& is divesting its 40% stake in Khazna Data Centers to AI firm G42 for USD 2.2 billion. The sale aligns with e&’s asset monetization strategy, enabling it to concentrate on core operations while maximizing shareholder value.
E& and G42 initially merged their data center businesses in 2022 to form Khazna, now a key provider of wholesale data center solutions in the Middle East. Khazna specializes in secure, scalable, and energy-efficient infrastructure, supporting digital transformation and cloud computing for enterprises, hyperscalers, and government clients. With a focus on sustainability and innovation, the company delivers advanced colocation services across its expanding network of data centers.
Despite exiting its ownership stake, e& will remain a strategic partner and major tenant of Khazna, collaborating on AI-driven connectivity and next-generation digital infrastructure solutions.
Separately, MGX and Silver Lake will become minority investors, joining G42, which will retain a majority stake.
The transaction is expected to close by the end of the first quarter, with proceeds earmarked for debt reduction, enhancing e&’s financial flexibility and credit profile.
This concludes our M&A news coverage of the top global mergers and acquisitions deals for the week of Feb 24 to Mar 2, 2025. For continuous and detailed insights into the evolving landscape of M&A news, we invite you to follow the Institute for Mergers, Acquisitions, and Alliances (IMAA).
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